TDS on retention bonus refund

This query is : Resolved

Uma Iyer (Querist)
Follow

25 July 2023 hi , my query is for the TDS paid on retention bonus.
Retention bonus was received in FY 21 post deduction of Tax. The next year the employee resigned and had to pay the full amount back to the company.
The bonus paid back, is shown in the full and final letter given by the company. however; how to get the refund on the tax which is already paid in the previous year. Please advise, how to claim the tax on amount paid back. Should it be reduced in the income from Previous employer or shown as any other deduction?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

25 July 2023 Reduce the income from previous employer.

Uma Iyer

Uma Iyer (Querist)
Follow

25 July 2023 but the issue is in the Form 16 they have not showed the amount paid back to the co; however there is statement from co in Full and final settlement showing the gross amt paid back as retention bonus.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

26 July 2023 Any how you can reduce if it's within 10% any query from IT department it can be replied with document.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now